Ind-Ra assigns ‘IND AAA’ rating to IRB InvIT’s proposed rupee term loan

IRB InvIT Fund introduced that India Scores and Analysis (Ind-Ra) has affirmed (IRB InvIT) senior debt ranking at ‘IND AAA’. The ranking company affirms Outlook as ‘Steady’.

Additional, the ranking company has assigned a provisional ‘IND AAA’ ranking with a Steady outlook on the corporate’s Proposed rupee time period mortgage (RTL) value Rs341 crore.

The scores show IRB InvIT’s glorious capability to fulfill exterior senior monetary commitments, together with these of the companies that make up its portfolio.

The scores are primarily based on the sturdy pool of working property with excellent operational efficiency, the advantageous location of the undertaking stretches, and the presence of a fixed-price operations and upkeep (O&M) contract accomplished by all underlying SPVs with IRB Infrastructure Builders Ltd.

The scores additionally take into consideration the projected acquisition of VEPL, which is anticipated to be wholly financed by debt at first. The deliberate debt of as much as Rs342 crore can be used to pay the transaction.

At round 3.08 PM, IRB InvIT Fund was buying and selling at Rs56.50 down by 0.07% from its earlier closing of Rs56.54 on the BSE.